RUNE USDT the journey of getting back-in.I would love to see RUNE go back in these FIB levels. (These fib levels are mine do not get confused or do not chat the proper way of using fib. Because I do not give a single damn about what you are about to tell me, unless you will take time to improve it and share to me then I will be willing to learn)
As I'm analyzing this chart, I see several signals that hint at why a pullback to the 0.886 or 0.84 Fibonacci level is plausible. First, the Fibonacci tool is crucial in my analysis—it provides a roadmap of where prices might find support or resistance. These particular levels are known to act as a magnet for price after a significant move, indicating a natural retracement.
The Heikin Ashi candles, with their smoothed presentation, show a trend losing its momentum, and that's my first clue that a retracement might be on the horizon. Then, I look at the moving averages: the 20, 50, and 200-period MAs. Prices tend to gravitate back to these lines, especially after a prolonged move away from them—it's like an elastic band snapping back.
Now, the Stoch RSI Divergence is especially telling. It's been in the overbought territory with 'R' signals flashing. This suggests that the market's energy is waning, and a reset is due—a dip to lower levels where the market has previously found equilibrium. It's a cycle I've seen repeatedly: a burst of activity, overextension, and then a return to a level that the market perceives as more balanced.
The Smart Money Concepts indicator aligns with this. It suggests that the institutional money, the 'smart money', may be taking profits or repositioning. These players have significant influence, and their actions can signal a forthcoming change in direction.
Combining these signals, I can infer that there's a confluence of factors suggesting a retracement. It's like the market has sprinted up a hill and now needs to catch its breath before deciding on the next move. The 0.886 or 0.84 Fibonacci levels are where I expect the market to find a foothold—if it aligns with the 'smart money' and the Stoch RSI reset, then that's where I'd anticipate a potential rebound or consolidation. It's all about reading the market's language through these indicators, and right now, they're speaking the language of a reset.
IMO
China concessions, oil and IMO 2020, BoA listYesterday was not that eventful for financial markets.
As for the general background, the Chinese state media that Sino is ready to make concessions to the United States (mainly, it is about importing food from the United States) and is preparing for “personal” negotiations with the United States instead of current telephone diplomacy.
In the oil market, despite the external calm, everything is quite alarming. Theresa May convened an emergency meeting in response to Iran seizure of a British tanker in the Strait of Hormuz that have led to an increase in tension. However, the effect was limited in forcing price levels, as the markets do not want to develop a conflict.
Today we want are writing about the upcoming revolution in the oil market and the IMO 2020 standard. One of the main oil consumers are ships that burn 3 million barrels per day. So from January 1, 2020, the International Maritime Organization (IMO) tightens standards, reducing the maximum sulfur content in marine fuels (from 2.7-3% to 0.5%). Shipowners will begin to reorient their ships to such clean fuels as LNG, which could significantly reduce the oil demand.
And more about the prospects. Bank of America identified the most “overheated” markets and assets, as well as identified positions that look most threatening in case of problems or force majeure. These are US treasury bonds purchases, the US technology sector shares purchases, and purchases of investment-grade bonds. So if you have such positions you should think about whether it’s time to close them or replace.
As for our trading recommendations for today, they are unchanged. We will continue to look for opportunities for selling the dollar, buying the pound against the dollar as well as against the euro, selling oil and the Russian ruble, and also buying the Japanese yen against the dollar. As for gold, considering how high it climbed, for the time being, we will trade it with no clear preference, buying from oversold and selling from overbought zones.
IMO - Downward channel breakout long, also oil hedge playIMO nicely breaking out downward channel formation. It looking very good as Oil hedge play.
* Trade Criteria *
Date First Found- June 19, 2017
Pattern/Why- Downward channel breakout
Entry Target Criteria- current price
Exit Target Criteria- N/A
Stop Loss Criteria- $28.67
Please check back for Trade updates. (Note: Trade update is little delayed here.)